Oil Shock Threatens Global Recession, But India May Not Be Worst Hit: Economists

• Economists Neelkanth Mishra and Sajid Chinoy discuss the impact of a prolonged oil shock on India's growth and corporate earnings.
• Mishra warns of accelerating earnings downgrades if the conflict continues and a severe global recession if the Strait of Hormuz remains closed.
• He notes that elevated bond yields signal tightening financial conditions, even without explicit policy action.
• Mishra believes the direct impact of rising oil prices is a "one-time shock" and does not warrant immediate rate hikes.
• Chinoy emphasizes the need for policy support, resilience, and targeted measures from RBI and the government to protect against shocks.